Lohia Corp has filed draft red herring prospectus (DRHP) with Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). The IPO is entirely an Offer-For-Sale (OFS) of 31,695,000 equity shares by promoters and other shareholders.
The proposed listing of its equity shares will enhance its visibility and brand image, provide liquidity to shareholders as well as provide a public market for the equity shares in the country. ICICI Securities, IIFL Securities, HSBC Securities and Capital Markets (India), and Motilal Oswal Investment Advisory are the book-running lead managers to the issue. The equity shares of the company will be listed on the BSE and NSE.
Kanpur-based Lohia Corp is the manufacturer of machinery and equipment used in the production of technical textiles, in particular for manufacturing polypropylene and high-density polyethylene woven fabric and sacks.
